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Art of Procurement

Learn from Procurement Experts. Host Philip Ideson talks with thought leaders who share the trends, strategies and tactics that you can lever to elevate the role of procurement - and your career.
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Now displaying: November, 2023
Nov 27, 2023

“The most successful procurement teams have a strong ability to articulate what they’re doing in the context of overall business objectives.” - Aaron Addicoat, Senior Manager at Deloitte 

We live and work in a time characterized by global supply chain disruptions, inflationary conditions, the pandemic, and a war for talent. As a result, procurement has come under increasing pressure to “do more with less,” and deliver value in areas where they have not traditionally made direct contributions. 

To better understand the evolving nature of procurement and, in particular, what distinguishes the highest performing teams or, “Orchestrators of Value,” from the rest of the pack, Deloitte made this the focus of their 2023 Global Chief Procurement Officer survey. 

Philip Ideson recently spoke with Aaron Addicoat, Senior Manager, and Ryan Flynn, Principal, both from Deloitte, about Orchestrators of Value and how procurement teams can adapt their strategies to increase performance and drive more impact. 

In the episode, Aaron and Ryan discuss: 

  • How procurement Orchestrators of Value outpace their peers in terms of savings, performance, and relationships
  • How communicating procurement’s value proposition increases their reputation and influence within the business 
  • Key areas of focus for procurement moving forward, including operating models, talent strategies, and digital maturity

Links:

Nov 24, 2023

Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.

Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.

Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.

Nov 20, 2023

“Today, if we’re recruiting fresh talent, the right resource pool is not available. That talent incubation is not happening, which primarily means we need universities recognizing procurement as a discipline and making sure that individuals acquire a certain level of skills and are ready to be injected into the corporate setup.” - Nishish Saxena, Head of Terminals Procurement, India and Middle East, Maersk

For years now, procurement has often been seen as a back-office function responsible for finding and managing suppliers and cutting costs, and not as a strategic superpower that can support the overall goals and growth of the entire business. 

In part, procurement’s ‘perception problem’ and reputation as an undervalued and misunderstood function has to do with the way talent is, or isn’t, developed and how a lack of institutional and educational support is doing a collective disservice to procurement leaders and the discipline as a whole. 

Philip Ideson recently spoke with Nishish Saxena, Head of Terminals Procurement, India and Middle East, at Maersk, about his personal views on why procurement is so often undervalued as a strategic partner.

In this episode, they discuss: 

  • The evolution of procurement’s value creation potential beyond supply chain and cost management
  • How educational institutions can help establish procurement as a critical strategic business discipline and stop the perpetuation of misconceptions about their value potential
  • The core skill set procurement needs to strengthen their capabilities and elevate their brand

Links:

Nishish Saxena on LinkedIn

 

Nov 17, 2023

Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.

Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.

Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.

Nov 16, 2023

In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here. 

In this fourth and final episode in the series, Philip Ideson speaks with Clive R. Heal, Founder and CEO, and Bill Michels, Chief Commercial Officer, both from LavenirAI, to bring all the concepts discussed in the series together and consider the overall impact AI is and will have in shaping the future of procurement. 

Key topics include: 

  • How AI will change procurement-stakeholder and procurement-supplier relationships
  • The rise of virtual reality, augmented reality, and conversational AI in procurement
  • How procurement can embrace a new AI-powered reality

Links:

 

Nov 15, 2023

In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here.  

In the third episode, Philip Ideson is joined by Bill Michels, Chief Commercial Officer at LavenirAI, to talk about how procurement can leverage automation to be more successful.

Key topics include:

  • Embracing automation to achieve next-level efficiency and stronger data sets
  • Stronger predictive analytics, forecasting, and planning through automation
  • The rise of data scientists and automation specialists as key players in procurement

Links:

 

Nov 14, 2023

In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here.  

In this second episode, Philip Ideson is joined by Bill Michels, Chief Commercial Officer at LavenirAI, to discuss the impact of automation on procurement and how procurement needs to adapt their skills to thrive in an increasingly automated, AI-powered world. 

Key topics include:

  • Procurement’s most valuable skills going forward
  • Where procurement should invest in skills development today
  • The impact of AI on job functions, individual roles, and hiring

Links:

 

Nov 13, 2023

In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here. 

In this first episode, Philip is joined by Clive R. Heal, Founder and CEO at LavenirAI, to explore what the procurement metaverse is, how to leverage it, and the transformational impact it is already having on procurement today.

Key topics include:

  • The procurement metaverse, what it is and how it will impact procurement’s day-to-day
  • Procurement’s skill set of the future
  • Embracing opportunity and facing fears around AI

Links:

Nov 10, 2023

Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.

Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.

Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.

Nov 6, 2023

“We have the opportunity to do more, to shape the role of the procurement, shape the expectations that the C-suite has of procurement, define what procurement can do, and link that to the other capabilities that procurement has. That’s what a good procurement roadmap should do.” - Len Prokopets, Managing Director, Procurement and Outsourcing Advisory at KPMG

Procurement has experienced unprecedented change and disruption in the past several years. Procurement operating models and priorities continue to evolve as new trends take hold, including economic turmoil, ESG, supply disruptions, shifting workforce dynamics, new regulatory requirements, and technology innovations such as generative AI. 

Procurement must navigate these changes to help the broader organization adapt, innovate, and deliver.

To help their clients understand this changing environment and benchmark their strategies and investment priorities, KPMG recently conducted a survey of 400 global procurement leaders. The study captured insights on procurement’s current challenges, goals, and priorities as well as the path forward.

In this episode, based on an AOP Live session, Dipan Karumsi, Principal and Leader of Procurement and Outsourcing Advisory at KPMG, and Len Prokopets, Managing Director, Procurement and Outsourcing Advisory, discuss key market insights from the survey with Philip Ideson and Kelly Barner.

Their guidance for forward-looking procurement leaders includes:

  • The key investments that procurement leaders are making in response to today’s challenges and priorities 
  • What savings levels procurement organizations are targeting going forward
  • How procurement budgets and headcount are likely to change
  • Emerging technologies being adopted and implemented

Links:

 

Nov 3, 2023

Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.

Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.

Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.

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